+1-888-308-5802     
News Contact Us

Construction Equipment Market 2020 - Demand Analysis, Trends Outlook and Future Opportunity to 2026

Author : Ronak Bora | Published Date : 2020-09-16 

Immense growth in the residential building construction activities across countries like Russia, and UK would propel the Europe construction equipment market growth over the forecast timeframe. Furthermore, the region is anticipated to observe an increasing demand for autonomous and electric construction equipment owing to the paradigm shift towards using technologically advanced products. In addition, the growing preference of construction contractors towards renting construction machines is driving local service providers to adopt more high-quality equipment.

The growing demand for high-performance construction equipment across agricultural, mining, forestry, and industrial applications is likely to drive the global construction equipment market growth over the coming years. The increasing adoption of modern machines to decrease the growing dependency on human labor across the aforementioned applications is proliferating the market outlook. In addition, rising industrialization and urbanization throughout the world is further expected to boost product demand.

Request a sample copy of this research report @  https://www.gminsights.com/request-sample/detail/2803

According to a research report by Global Market Insights Inc., the global construction equipment market is likely to exceed a valuation of $160 billion by 2026.

The construction equipment industry boasts of a significantly vast product portfolio that contains machines that are designed for specific applications. The specialized designs of these devices allow their use across a number of other applications as well, creating favorable revenue growth opportunities for the market.

However, the construction and infrastructure development sector is still the most prominent growth facilitator for the industry. Several economies are increasing focusing on extensive infrastructure upgradation and development initiatives, creating more business opportunities for construction equipment sector from its core application avenue.

For instance, according to the India Brand Equity Foundation, India alone requires an investment of more than $777.73 billion in its infrastructure by 2022 to support the sustainable development of the country. Moreover, the Indian government has undertaken initiatives such as Smart City Mission, and Housing For All, which are expected to directly fuel growth of the sector. Furthermore, the government has also permitted 100% FDI in the construction sector through the automatic route, making it a lucrative playing field for prominent global industry players.

With respect to material, the concrete equipment segment is projected to grow significantly due to the rising number of road-building activities throughout the globe. This focus on improving public infrastructure is expected to push industry share over the coming years. Taking March 2019 for instance, the Indian Government sanctioned new National Highway construction projects worth more than $15.9 billion. Construction equipment like pavers and mixers, enable timely and quick completion of road building and construction projects, augmenting their demand in the industry.

Request for customization @ https://www.gminsights.com/roc/2803

Meanwhile, increasing implementation of the product across agricultural and mining industries across Latin America is expected to foster the LATAM construction equipment market size over the coming years. Additionally, increasing accident across construction sites and the subsequent rise in worker safety concerns would be promoting the adoption of autonomous and technologically advanced construction across the Asia Pacific, fueling regional growth.

The key industry players are increasingly focusing on consolidating their foothold in the market through acquisitions, partnerships, investments, and mergers. Taking February 2019 for instance, Terex Corporation signed an agreement to sell its Demag Mobile Cranes business to the japan-based Tadano Ltd., for approximately $215 million. The takeover also included several of the company’s manufacturing facilities and sales as well as service locations to Tadano.

Browse complete table of content of this research report @ https://www.gminsights.com/toc/detail/construction-equipment-market

The competitive landscape of the global construction equipment industry is inclusive of players such as Kobelco Construction Machinery Co., Liebherr, Zoomlion, XCMG, Sany Group, Hitachi Construction Company, Terex Group, and Komatsu among others.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

Related News

Histology Equipment Market Outlook 2026 Focus on Emerging Technologies & Regional Analysis

Published Date: 2020-09-18         Author: Ronak Bora

Titled ‘Global Histology Equipment Market Research Report’, the report is complete with an elaborate research undertaken by prominent analysts and a detailed analysis of the global industry place. The study is inclusive of a well-elaborated, extensive scrutiny of this industry alongside ... Read More

Incubator Device Market Outlook By Industry Statistics and Growth Forecast Analysis To 2026

Published Date: 2020-09-18         Author: Ronak Bora

A detailed research study by Global Market Insights, Inc. analyses the incubator device market based on competitive landscape, evolving technologies, current business trends, key industry players, growth pattern, and demand projections by the year 2026. The report also includes an in-depth analysis ... Read More

Kidney Function Tests Market To Observe Strong Development By 2026

Published Date: 2020-09-18         Author: Ronak Bora

This recently added report by Global Market Insights, Inc. on the Kidney Function Tests Market is a detailed analysis of the market sphere and provides details pertaining to Industry Tactics, Evolving Technologies, Key Companies, Growth Rate, Business Competitors, and Forecast by 2026. The report co... Read More

© 2020 Fractovia. All Rights Reserved